NEW YORK, NY — (Marketwire) — 01/23/12 — PennantPark Investment Corporation (the “Company”)
(NASDAQ: PNNT) announced that it plans to make a public offering of 9,000,000
shares of its common stock. The Company also has granted the underwriters an
option to purchase up to an additional 1,350,000 shares of common stock to cover
over-allotments, if any. The offering price of the shares, subject to the approval
of the Company-s Board of Directors, will be determined by market conditions
at the time of pricing in consultation with the underwriters of the offering.
The offering of the shares will be made under the Company-s shelf registration
statement, which was filed with, and has been declared effective by, the Securities
and Exchange Commission.
The Company expects to use the net proceeds to reduce outstanding indebtedness,
to fund investments in accordance with its investment objectives, or for general
corporate purposes.
Morgan Stanley & Co. LLC, Goldman, Sachs & Co., RBC Capital Markets, LLC, Credit
Suisse Securities (USA) LLC, Stifel, Nicolaus & Company, Incorporated, and
SunTrust Robinson Humphrey, Inc. are acting as joint bookrunning underwriters.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy nor will there be any sale of the shares referred to in this
press release in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction.
ABOUT PENNANTPARK INVESTMENT CORPORATION
PennantPark Investment Corporation is a business development company which
principally invests in U.S. middle-market private companies in the form of senior
secured loans, mezzanine debt and equity investments. PennantPark Investment
Corporation is managed by PennantPark Investment Advisers, LLC.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. All statements other
than statements of historical facts included in this press release are
forward-looking statements and are not guarantees of future performance or
results and involve a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result of a number
of factors, including those described from time to time in filings with the
Securities and Exchange Commission. The Company undertakes no duty to update
any forward-looking statement made in this press release. All forward-looking
statements speak only as of the date of this press release.
CONTACT:
Aviv Efrat
PennantPark Investment Corporation
(212) 905-1000